SBI to raise over Rs 12K cr through overseas bonds

Mumbai, Jan 8 : The State Bank of India (SBI) on Monday said it will raise over Rs 12,600 crore (USD 2 billion) by issuing bonds in dollar or other convertible currencies.

"The executive committee of the Central Board... has approved long term fund raising in single/multiple tranches up to $2 billion," the state-run bank informed in a regulatory filing to the BSE.

The BSE filing added that raising of funds would be done through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during FY 2017-18 and FY 2018-19.